Ginning up mortgage loans isn’t an easy proposition these days, but credit unions are working hard to get the right member into the right house. One successful approach for enhancing a mortgage portfolio lies in bridging the divide between credit union and realtors. Realistically, cooperatives aren’t top of mind for realtors, so changing the awareness tide can be a major strategic benefit for credit unions.
For the staff at Wright-Patt Credit Union ($1.9B, Fairborn, OH), wrangling realtor recognition is a priority. Director of retail mortgage originations Dave Von Derau and real estate manager Sharon Flohre say patience is more than a virtue when cultivating these relationships, it's a necessity. And as with any initiative worth exploring, it takes care and time to grow.
To get in a realtor’s line of sight, the pair recommends taking realtors out to lunch for an informal meeting. Also, join the local realtor board and attend industry events. You want to be where the realtors are, and you have to make the first move. Otherwise, the relationship will never develop.
Watch the entire Callahan Webinar Romance Your Realtor.